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John Jeffay

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Articles

Swiss Watch Sales up 11% in June

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By John Jeffay
| IDEX Online Verified
(IDEX Online) - Swiss watch exports increased by 11.2% in June, following on from negligible growth (+0.4%) in May. There was strong growth in the US (+12.7%), the biggest single market, and the UK (+12.2%), driven by a favorable base effect (lower sales last June), according to the Federation of the Swiss Watch Industry (FHS). There were increases also for the United Arab Emirates (+20.4%) but sales were down in China (-16.5%), Germany (-10.6%) and Italy (-21.4%).
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$7 "Costume Jewelry" is Actually a $20,000 Diamond Ring

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By John Jeffay
| IDEX Online Verified
(IDEX Online) - A piece of costume jewelry, bought for £5 ($7) at a yard sale in England, turned out to be a 3.02-carat diamond set in an 18K gold ring valued at £15,000 ($20,225). The unnamed owner took it to a traveling jewelry and antique appraisal event in Oxford, run by WeBuyVintage, a company that buys vintage, antique, and precious items for cash. "I was completely shocked," said the woman who brought the ring for appraisal.
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Canada's First Diamond Mine to Shut, Owners Enter Receivership

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By John Jeffay
| IDEX Online Verified
(IDEX Online) - Burgundy Diamond Mines, owners of Ekati, are to enter receivership after running up debts of over $280 million and failing to find a buyer for Canada's first commercial diamond mine. The Supreme Court of British Columbia placed its subsidiary Arctic Canadian Diamond Company, operator of the mine, into receivership on 14 July. The mine, which opened in 1998, will cease operations and the remaining 350 workers will be laid off.
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